请教高人：CIBC Mortgage Cash Back Offer是不是很好？

caifan

刚刚打电话给CIBC问 cash back offer的详情，大致如下：
8 ]# w% ^, ^# r9 `# j% x3 j
5 M  h4 X% b) F9 Y1。三年固定利率3.3%, cash back 2%;
$ p5 x  i  q7 a5 p; z3 {( @2。五年固定利率3.99%, cash back 2%.
. w! P+ Z% p7 t; [2 f3。按照银行网站，五年固定利率5.39%, cash back 5%

另，做mortgage transfer, 而不是refinance, 银行可以支付lawyer's fee。
6 d- b6 S4 ~: D- I2 R$ C8 F感觉选择3最值。各位高人有何高见？

caifan

! b  d) V& U& S' l. O
cibc的人好像是这么给我推算的：

" X+ K8 h2 Z+ X) j2 P% n$ i9 H2%现金返还三年期，相当于每年2/3=0.67%的折扣，3.3-0.67=实际利率2.63%
2%现金返还五年期，相当于每年2/5=0.4%的折扣，3.99-0.4=实际利率3.59%

按他的算法，5%现金返还五年期，相当于每年5/5=1%的折扣，5.39-1=实际利率4.39%，不是特别好。

: a0 o1 s& a8 t& T* ?4 R我觉得他的算法不精确，好像是假定你会把cash back花掉。如果把cash back马上用于还贷，整个的贷款额就降低了，所以cash back越高越好。

Pierce.CIBC

Let's say a customer wants to transfer $400,000 mortgage to CIBC. He has 2 options.
1.   3-year closed mortage with 3.3% and 3% cash back.
2.   5-year closed mortgage with posted rate 5.39% and 5% cash back
1 [. q9 r, l/ d1 Y( B
0 b7 C, l% p5 V; o+ q. k9 t" Z. k/ ]) L' ~Option 1. After 3% cash back, your mortgage amount will become $400,000*0.97=$388,000 with 3.3% interest
If you want to payoff your mortgage in 25 years. Monthly PMT $1896.44. The remaining balance is $356,393 after 3 years.
5 o( F# N7 f; _6 Q3 k
$ ?! X, E! ^+ O7 F  ?Option 2. After  5% cash back, your mortgage amount will become
! t9 n* y5 n& v6 h( s7 ^/ q( V6 |9 l$400,000*0.95=$380,000 with 5.39% interest.
. n/ m, s9 c! B0 W4 q. d! P$ EIf you want to payoff your mortagge in 25years. Monthly PMT 2295.21  The remaining balance will be $356,351.50 after 3 years

Basically, for the above options, after 3 years, the mortgage remaining balance is similiar.
If you choose the 2% cash back with 3.3%, every month you save about $398.77 monthly payment for 3 years.  Total roughly saving ($398.77*12*3=$14,355)

诺言

能确认一下把mortgage从别的银行转到CIBC，CIBC负担全部律师的费用吗？

caifan

3# Pierce.CIBC
谢谢回复！我后来用网上的贷款计算器算了一下，五年选择5%的返还和5.39% 的posted rate确实不划算，主要因为5.39实在太高了。

caifan

用网上的贷款计算器计算，五年固定利率3.99%, cash back 2%比起现在单纯的五年固定利率3.59%要划算一些。

Rapala

问一个问题，如果是投资房，cashback算收入要交税吗？

caifan

银行网站说：
4 S$ x, j+ Q$ w7 n, T4 P$ o+ NThe Cash back amount is tax free as long as the funds are not used to earn income from a business or property.

Pierce.CIBC

4# 诺言

There is no fee/cost to transfer your mortgage

tyyjohn

任何时间都可以转吗？  还是要等5年满了才能转？

诺言

4# 诺言
2 L- S  r8 Y$ B& Q$ \5 ~
There is no fee/cost to transfer your mortgage
Pierce.CIBC 发表于 2010-3-4 14:26

但是Title上面的mortgagee不是需要改吗？这个过程不需要律师吗？

Pierce.CIBC

CIBC got free AD from Globe&Mail
  e: g) ?' C, Y
& C. x" N/ y6 T/ Xhttps://secure.globeadvisor.com/ ... /cnw/20100305/C7106

caifan

据我的重新计算，五年固定3.99% 加上2 % 现金返还大致相当于3.50%，这是相当不错的了。

' Q5 j) ?6 l& g  q+ {# e( R9 e4 X; {! D" D居然有一位mortgage broker能给这个rate，但是prepayment是5%，不是我想要的 10%。

诺言

“In addition, there are no transfer-in fees for clients to move their mortgage to CIBC.”
这句话并没有解答new mortgage是否需要律师involve去land title office注册的问题啊？

caifan

“In addition, there are no transfer-in fees for clients to move their mortgage to CIBC.”
这句话并没有解答new mortgage是否需要律师involve去land title office注册的问题啊？
诺言 发表于 2010-3-11 11:41

1 K+ B! S1 C4 N, D/ h4 `6 `这个我也问清楚了。我的mortgage broker读了fine print，说你想让银行代付律师和登记费，就得放弃现金返还，当然没有人会那样做。为此他可以另外给我一些现金返还，足够支付相关费用。他说这部分现金返还是他本人用自己积累的点数支付的，与cibc的offer无关。

诺言

这个我也问清楚了。我的mortgage broker读了fine print，说你想让银行代付律师和登记费，就得放弃现金返还，当然没有人会那样做。为此他可以另外给我一些现金返还，足够支付相关费用。他说这部分现金返还是他本人用 ...
3 [1 P: P* h% I5 ~) t! ecaifan 发表于 2010-3-11 11:59

' a$ E( [) S) T' I是实实在在的现金返还吗？我看一直没正面回答，感觉有点问题。

Pierce.CIBC

14# 诺言
  z! C- k! N2 M( n; P% @) S

/ o! a6 b0 j9 l! s6 z( }当您把mortgage转过来，cibc会给您mortgage注册，不需要花钱。

Pierce.CIBC

16# 诺言

1 o/ o: n3 p7 z' g/ @1 s4 n
是free money,直接打到您的银行帐号。